A couple of years ago, Lorie Latham, senior defined contribution strategist and a vice president at T. Rowe Price, initiated an outreach program to plan sponsors to see what their feelings were on retiring workers and whether those sponsors wanted them to stay in 401(k) plans after leaving the workforce.
The vast majority indicated they wanted retirees to stay in plan, Latham told BenefitsPRO.
“We were shocked,” she said of her team's initial findings. An industry veteran, she spent the decade prior to joining T. Rowe on the consulting side. “The question of what to do with retiring workers simply wasn't on sponsors' minds.”
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